Retransmission: Underworld Drills 3.1 g/t Au Over 50.7 Meters in 80 Meter Step-Out Hole at White Gold Property, Yukon
16 Outubro 2008 - 10:30AM
Marketwired
Underworld Resources Inc. (TSX VENTURE: UW) is pleased to announce
further assay results from an additional three drill holes at the
100% owned White Gold Property, Yukon Territory, Canada. Hole
WD-021 at Golden Saddle returned the thickest intercept to-date,
encountering 3.1 g/t Au over 50.7 meters from 96 meters at the
Golden Saddle Zone.
Drilling at the White Property has discovered two separate,
shallow-dipping, near surface gold mineralized zones over
significant strike lengths that could be potentially amenable to
open-pit mining methods. The Golden Saddle Zone and Arc Zone are
both open for expansion in multiple directions.
At the Golden Saddle Zone, hole WD-21 is the northernmost
intercept reported to date, and returned 3.1 g/t Au over 50.7
meters from 96 meters, including 3.4 g/t Au over 44 meters, or 3.79
g/t Au over 23 meters. This intercept is an 80 meter step-out
northeast of the previously reported, hole WD-16, which returned
3.4 g/t Au over 14.2 meters. Additionally, hole WD-20 collared in
gold mineralization at surface, returned 1.87 g/t Au over 27.7
meters. This intercept is 100 meters east of previously reported
hole WD-09, which returned 4.2 g/t Au over 16.0 meters.
At the Arc Zone, hole WD-17 returned 1.47 g/t Au over 29 meters
from 100 meters below surface. This drill hole is the second
significant gold intersection at the Arc Anomaly and is located
approximately 600 meters from WD-14 which returned 1.18 g/t Au over
28.5 meters from the surface and suggests significant strike
potential for this zone. The Arc gold in soils anomaly, which is
characterized by gold values exceeding 80 ppb, extends over a
distance of two kilometers and is a separate target from Golden
Saddle. Mineralization intersected in holes WD-14 and WD-17 is open
in all directions.
The newly discovered zones of gold mineralization at the Golden
Saddle Zone and Arc Zone occur within the Tintina gold belt. The
White Gold Property is located within 30 kilometers of a road, and
can be accessed by commercial river barge from Dawson along the
Yukon River.
The 2008 drill program at White Gold, now complete, totaled
3,431 meters in 27 holes. The Phase two drill program commenced in
August 2008, and completed holes WD-014 to WD-027 for a total of
2,188 meters. Assays from six additional holes are pending.
Underworld is planning an aggressive drill program commencing in
the spring of 2009 to expand the extent of mineralization at the
Golden Saddle and Arc Zones, and to test multiple other targets on
the White Gold Property.
Location maps, drill hole collar locations and a full table of
assay results can be viewed shortly at www.underworldresources.com.
Reported lengths are drill indicated lengths; true widths are not
fully understood due to brittle faulting, however, are estimated to
range from 72 to 95% of the drilled lengths.
Quality Assurance
Underworld has implemented a rigorous QA/QC program using best
industry practice. Elements of the program include chain of custody
of samples, standard and blank samples are submitted, with drill
core sawn in half and shipped in sealed bags to Alaska Assay
Laboratories in Fairbanks, Alaska. The ongoing 2008 Exploration
Program is directed by Adrian Fleming, M.A.I.G, RPGeo,
M.Aus.I.M.M., President of Underworld Resources and a Qualified
Person as defined by NI43-101. Mr. Fleming prepared, and approves
of the content of this release.
Underworld Resources is a well-structured junior exploration
company targeting base and precious metals in the Americas.
ON BEHALF OF THE BOARD OF DIRECTORS
Adrian Fleming, President
Forward Looking Statement
Some of the statements contained in this press release are
forward-looking statements. Forward-looking statements are not
historical facts and are subject to a number of risks and
uncertainties beyond the Company's control, including, but not
exclusively, statements regarding potential mineralization,
exploration results, completion of work program and studies, and
future plans and objectives of the Company. Resource exploration,
development and operations are highly speculative, characterized by
a number of significant risks, which even a combination of careful
evaluation, experience and knowledge may not eliminate, including,
among other things, unprofitable efforts resulting not only from
the failure to discover mineral resources but from finding mineral
deposits which, though present, are insufficient in quantity and
quality to return a profit from production.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Underworld Resources Inc. Hamish Greig Investor
Relations (604) 684-4001 (604) 484-7155 (FAX) Email:
info@underworldresources.com Website:
www.underworldresources.com
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